Vertical Farming Market By Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, Others), By growth Mechanism (Hydroponics, Aeroponics, Aquaponics), Industry Trends, Estimation & Forecast, 2016 - 2024.

September 2017

 Pages: 154

 ERC 9449

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Vertical Farming Market was valued at $1.47 billion in 2016, and is projected to reach $8.03 billion by 2024, having a CAGR of 20.7% during the forecast period of 2017 to 2024. In 2016, the lighting segment generated the highest revenue share in the global vertical farming market.

The production of crops by using vertically stacked layers, vertically inclined surfaces and other integrated structures such as skyscraper, used warehouse, or shipping container is called vertical farming. The present-day ideas of vertical farming utilize indoor farming techniques and controlled-environment agriculture (CEA) technology, where all environmental features can be controlled and directed. These facilities utilize artificial control of light, environmental control (including humidity and temperature) and fertigation. Some vertical farms use techniques analogous to greenhouses, where natural sunlight can be amplified with artificial lighting and metal reflectors.

Vertical Farming Market Determinants
Constantly rising popularity of organic foods, surging urban population and limited availability of arable land for traditional agriculture are some major influencing factors which are motivating the growth of vertical farming market. In addition to this, people are now shifting from conventional agricultural methods to modern and sustainable ways to fill the increasing demand-supply gap. On the other hand, high initial investments and lack of technical knowledge are some major impeding factors, hampering the growth of the market. In addition to this, lack of awareness among farmers regarding operational and technological benefits of complete vertical farming method also acts as one of the major hampering agent for the market. However, continuous development in the field farming technology are anticipated to bring future opportunities for the market.

VERTICAL FARMING MARKET DETERMINANTS-IMPACT ANALYSIS, 2016 VS. 2024

Vertical Farming Market 

Market Segmentation

The global vertical farming market is categorized on the basis of component, building material, growth mechanism and geography. On the basis of component, the market is bifurcated as irrigation component, lighting, sensor, climate control, building material and others. By building material the market is segmented into glass greenhouse and plastic greenhouse. On the basis of growth mechanism the market is categorized as hydroponics, aeroponics and aquaponics. Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of World. Lighting segment is supposed to gerner the highest revenue holding nearly 27% of the overall market share.

GLOBAL VERTICAL FARMING MARKET BY COMPONENT, 2016

 Vertical Farming Market

On the basis of region, European vertical farming market is expected to grow at the highest CAGR during the forecast period, owing to growth in concern over availability of water in certain parts, majorly in central and southern regions, rise in demand of organic food, and requirement of ensuring urban food security.

Some major market players are, Aerofarms, Agrilution, American Hydroponics, Everlight Electronics, Farmedhere, Green Sense Farms, Hort Americas, Illumitex, Koninklijke Philips N.V and Sky greens.

VERTICAL FARMING MARKET SEGMENTATION

By Component
   • Irrigation Component
   • Lighting
   • Sensor
   • Climate Control
   • Building Material
   • Others

By Building Material
   • Glass greenhouse
   • Plastic greenhouse

By growth Mechanism
   • Hydroponics
   • Aeroponics
   • Aquaponics

By Geography
   • North America
   • Europe
   • Asia-Pacific
   • Rest of World

VERTICAL FARMING MARKET KEY PLAYERS

• Aerofarms
• Agrilution
• American Hydroponics
• Everlight Electronics
• Farmedhere
• Green Sense Farms
• Hort Americas
• Illumitex
• Koninklijke Philips N.V 
• Sky greens.

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    What Information does this report contain?

    • What was the market size of the Vertical Farming Market in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Vertical Farming Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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